Is Oak Ridge, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Oak Ridge has remained a Seller's Market.
Housing Prices in Oak Ridge, NC
How much do homes in Oak Ridge, NC cost?
Median Sold Price
$678,450
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Oak Ridge was $678,450 in May 2024, up 19.7% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $157K | - | N/A |
2 Bedrooms | $233K | $235K | +0.9% |
3 Bedrooms | $375K | $422.5K | +12.7% |
4 Bedrooms | $679.5K | $740K | +8.9% |
5+ Bedrooms | $762.5K | - | N/A |
Summary: Oak Ridge housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.9%, 3 bedroom homes increased by 12.7%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Oak Ridge | $566.7K | $678.4K | +19.7% |
Oak Ridge Township | $523K | $600K | +14.7% |
Stokesdale | $440K | $460K | +4.5% |
Colfax | $426.8K | $410K | -4.0% |
Deep River Township | $399.9K | $383.5K | -4.1% |
Housing Supply in Oak Ridge, NC
How many homes are available in Oak Ridge, NC?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
49 | 56 | +14.3% |
Summary: The Oak Ridge real estate market had 56 homes for sale in May 2024, a 14.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 0 | 0 | 0.0% |
3 Bedrooms | 13 | 13 | 0.0% |
4 Bedrooms | 34 | 40 | +17.6% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Oak Ridge housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
5 | 16 | +220.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in Oak Ridge in May 2024, up by 220.0% month-over-month. Of the 16 sold homes, 50% were sold under asking, 13% were sold at asking, and 38% were sold over asking.
Days on Market for Oak Ridge, NC
How long does it take to sell a home in Oak Ridge, NC?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
37 Days | 45 Days | +19.7% |
Summary: Homes in Oak Ridge had an average of 45 days on market in May 2024, up by 19.7% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During May 2024, 16 homes were sold in Oak Ridge; 63% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.